|[January 16, 2013]
USI Insurance Services Acquires Welsch Flatness and Lutz, Inc. and Construction Insurance Partners
BRIARCLIFF MANOR, NY --(Business Wire)--
USI Insurance Services ("USI") today announced the closing of the
acquisition of Welsch Flatness and Lutz, Inc., ("WFL") and Construction
Insurance Partners ("CIP"), both based in Saint Louis, MO. By combining
the existing USI office in Saint Louis with WFL and CIP, USI Insurance
Services becomes one of the largest middle-market insurance brokerage
firms in the Greater St. Louis metropolitan area. Terms of the
transaction were not disclosed.
Welsch Flatness and Lutz, Inc., provides a wide-ranging portfolio of
such insurance services as commercial, surety bonds, employee benefits
and private client solutions. Construction Insurance Partners is a
full-service, wrap-up broker for owner controlled insurance programs
(OCIP) and contractor controlled insurance programs (CCIP).
Thomas D. Cassady, USI's regional CEO for the Midwest, said, "WFL and
CIP understand the importance of the establishment and management of
long-term, one-on-one client relationships. With this acquisition, we
will leverage their talents to continue our acceleration of expansion in
the Midwest. I couldn't be more pleased to have both Dennis and John
join the USI family."
"We are excited to be joining the USI family," said Dennis D. Flatness,
president and CEO of Welsch Flatness and Lutz, Inc. "Managing risk is a
continuous challenge in today's environment and success is now defined
by a broker's ability to deliver measurable solutions that place the
client's issues front and center, and yield a meaningful economic
impact. USI is at the forefront in this new way of thinking, and their
local, service-orieted relationships fit perfectly with our vision. I
look forward to working with Dean and Tom, and to executing on strategic
growth opportunities in the future."
Dean A. Eggerding, employee benefits practice leader located in Saint
Louis, MO, said, "Through this acquisition, USI broadens its suite of
insurance solutions and wrap-up business, while being able to offer WFL
and CIP's clients expanded resources that come from having a national
footprint. I am excited to be partnering with such an experienced staff
and look forward to working with John and Dennis."
John J. Campbell, founding partner and president of Construction
Insurance Partners said, "CIP remains committed to delivering
exceptional OCIP and CCIP services while our clients enjoy the added
opportunities made available through this acquisition. As a USI Company,
we are excited to be working with an organization whose value
proposition is based upon discussing a breadth of relevant client
topics, presenting a depth of solutions that address those issues and
then demonstrating how those solutions translate into meaningful,
measurable results. While we embrace USI's approach, CIP will continue
to work as an independent division that works directly with independent
agents and brokers to assist on all levels of wrap-up services for its
clients and prospects."
About Welsch Flatness and Lutz, Inc.
Welsch Flatness and Lutz, Inc., provides a comprehensive portfolio of
insurance products and specialized services tailored to a business.
Headquartered in St. Louis, MO, WFL worked one-on-one to build long
lasting partnerships with growing businesses. Visit www.wfl-stl.com
for more information.
About Construction Insurance Partners
Headquartered in St. Louis, MO, Construction Insurance Partners partners
with other independent agents and brokers to provide all necessary
wrap-up insurance services whether general liability only or full
workers' compensation and general liability wrap-up programs. The CIP
team has worked on projects nationwide with construction values totaling
in excess of $30 Billion. Visit www.cip-stl.com
for more information.
About USI Insurance Services
Founded in 1994, USI is the 9th largest insurance broker in the United
States and the 13th largest in the world. USI is headquartered in
Briarcliff Manor, NY, and operates out of approximately 100 offices
across the United States. Additional information about USI may be found
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